Bill Text: FL S1348 | 2017 | Regular Session | Comm Sub

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Bill Title: Public Accountancy

Spectrum:

Status: (Introduced - Dead) 2017-05-01 - Laid on Table, companion bill(s) passed, see CS/HB 987 (Ch. 2017-148) [S1348 Detail]

Download: Florida-2017-S1348-Comm_Sub.html

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       Florida Senate - 2017                             CS for SB 1348
       
       
        
       By the Committee on Regulated Industries; and Senator Young
       
       
       
       
       
       580-02660-17                                          20171348c1
    1                        A bill to be entitled                      
    2         An act relating to public accountancy; amending s.
    3         473.302, F.S.; revising a definition; amending s.
    4         473.3101, F.S.; providing an exemption to the
    5         requirement for licensure of certain firms without an
    6         office in the state; amending s. 473.316, F.S.;
    7         revising a definition; amending s. 473.323, F.S.;
    8         providing that suspension or revocation of the right
    9         to practice before the Public Company Accounting
   10         Oversight Board is grounds for the imposition of
   11         penalties as provided by law; providing an effective
   12         date.
   13          
   14  Be It Enacted by the Legislature of the State of Florida:
   15  
   16         Section 1. Subsection (9) of section 473.302, Florida
   17  Statutes, is amended to read:
   18         473.302 Definitions.—As used in this chapter, the term:
   19         (9) “Uniform Accountancy Act” means the Uniform Accountancy
   20  Act, Seventh Fourth Edition, dated May 2014 December 2007 and
   21  published by the American Institute of Certified Public
   22  Accountants and the National Association of State Boards of
   23  Accountancy.
   24  
   25  However, these terms shall not include services provided by the
   26  American Institute of Certified Public Accountants or the
   27  Florida Institute of Certified Public Accountants, or any full
   28  service association of certified public accounting firms whose
   29  plans of administration have been approved by the board, to
   30  their members or services performed by these entities in
   31  reviewing the services provided to the public by members of
   32  these entities.
   33         Section 2. Paragraph (c) of subsection (1) of section
   34  473.3101, Florida Statutes, is amended to read:
   35         473.3101 Licensure of firms or public accounting firms.—
   36         (1) The following must hold a license issued under this
   37  section:
   38         (c)1. Any firm that does not have an office in this state
   39  but performs the services described in s. 473.3141(4) for a
   40  client having its home office in this state, unless it:
   41         a. Complies with the requirements described in s. 473.309.
   42         b. Is enrolled in a peer review program pursuant to s.
   43  473.3125(4).
   44         c. Performs services through an individual with practice
   45  privileges under s. 473.3141.
   46         d. Lawfully performs services in a state where an
   47  individual with practice privileges granted under s. 473.3141
   48  has his or her principal place of business.
   49         2. The board shall define by rule what constitutes an
   50  office.
   51         Section 3. Paragraph (b) of subsection (1) of section
   52  473.316, Florida Statutes, is amended to read:
   53         473.316 Communications between the accountant and client
   54  privileged.—
   55         (1) For purposes of this section:
   56         (b) A “client” is any person, public officer, corporation,
   57  association, or other organization or entity, either public or
   58  private, who agrees with an accountant or accountant’s employer
   59  to receive professional services who consults an accountant with
   60  the purpose of obtaining accounting services.
   61         Section 4. Paragraph (j) of subsection (1) of section
   62  473.323, Florida Statutes, is amended to read:
   63         473.323 Disciplinary proceedings.—
   64         (1) The following acts constitute grounds for which the
   65  disciplinary actions in subsection (3) may be taken:
   66         (j) Suspension or revocation of the right to practice
   67  before any state or federal agency or the Public Company
   68  Accounting Oversight Board.
   69         Section 5. This act shall take effect July 1, 2017.